Reps. Krishnamoorthi and Soto Introduce Bill to Let Puerto Rico Replace Federal Oversight Board
To amend the Puerto Rico Oversight, Management, and Economic Stability Act to provide for the termination of the Oversight Board under certain circumstances, and for other purposes.
This bill is currently in the early stages of the legislative process and has been sent to the House Committees on Natural Resources and the Judiciary for review. It is actively moving through the initial committee phase, but no further actions or hearings have been scheduled at this time.
Small business owners in Puerto Rico would benefit from having financial decisions made by locally accountable leaders rather than an appointed federal board. Local governance could prioritize economic development policies more responsive to the needs of Puerto Rico's business community, though outcomes depend on the successor entity's priorities.
Referred to the Committee on Natural Resources, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
No votes have been recorded for this legislation yet.
Representantes demócratas presentaron una legislación para la salida de la Junta de Supervisión y Administración Financiera en Puerto Rico (FOMBPR). La medida enmienda la ley PROMESA para la terminación de las operaciones de la Junta y restaurar la autoridad fiscal al gobierno electo.
U.S. Representatives Raja Krishnamoorthi (D-IL) and Darren Soto (D-FL) have introduced the Puerto Rican People's Power Restoration Act of 2026. This bill seeks to disband the Fiscal Management and Oversight Board established under PROMESA and return power to the people of Puerto Rico.
Organizaciones de la diáspora que forman parte de la coalición 'Power 4 Puerto Rico' continuarán presionando a favor de la legislación que busca ponerle fecha a la salida de la Junta de Control Fiscal, a pesar de que el co-patrocinador Raja Krishnamoorthi perdió sus primarias para el Senado.
Document Type
Congressional Bill
Official Title
To amend the Puerto Rico Oversight, Management, and Economic Stability Act to provide for the termination of the Oversight Board under certain circumstances, and for other purposes.
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